Ribbit Management Company LLC Invests $14.60 Million in Clear Secure, Inc. (NYSE:YOU)

Ribbit Management Company LLC bought a new position in shares of Clear Secure, Inc. (NYSE:YOU - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 547,978 shares of the company's stock, valued at approximately $14,598,000. Clear Secure comprises 1.7% of Ribbit Management Company LLC's investment portfolio, making the stock its 9th biggest holding. Ribbit Management Company LLC owned approximately 0.39% of Clear Secure at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Renaissance Technologies LLC increased its holdings in shares of Clear Secure by 15.7% in the 4th quarter. Renaissance Technologies LLC now owns 3,698,159 shares of the company's stock valued at $98,519,000 after purchasing an additional 501,000 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Clear Secure in the 4th quarter worth about $1,695,000. William Blair Investment Management LLC purchased a new position in Clear Secure during the fourth quarter worth approximately $37,697,000. Principal Financial Group Inc. boosted its holdings in Clear Secure by 3,937.1% in the third quarter. Principal Financial Group Inc. now owns 478,760 shares of the company's stock valued at $15,866,000 after acquiring an additional 466,901 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in Clear Secure by 1,557.5% in the fourth quarter. Cerity Partners LLC now owns 345,137 shares of the company's stock valued at $9,211,000 after buying an additional 324,314 shares during the period. 73.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Telsey Advisory Group reiterated an "outperform" rating and set a $32.00 target price on shares of Clear Secure in a research note on Friday, May 9th. Needham & Company LLC restated a "buy" rating and issued a $45.00 target price on shares of Clear Secure in a research report on Monday, March 24th. Finally, Stifel Nicolaus cut their price objective on shares of Clear Secure from $32.00 to $26.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Clear Secure currently has a consensus rating of "Moderate Buy" and an average price target of $32.00.

Insider Activity at Clear Secure

In other Clear Secure news, Director Kenneth L. Cornick sold 291,466 shares of Clear Secure stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $25.05, for a total value of $7,301,223.30. Following the completion of the transaction, the director now owns 64,935 shares in the company, valued at approximately $1,626,621.75. The trade was a 81.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 39.73% of the stock is owned by corporate insiders.

Clear Secure Price Performance

NYSE YOU traded up $0.35 on Tuesday, hitting $25.08. 791,820 shares of the company were exchanged, compared to its average volume of 2,163,444. The firm has a market capitalization of $3.43 billion, a P/E ratio of 29.24 and a beta of 1.25. Clear Secure, Inc. has a twelve month low of $16.48 and a twelve month high of $38.88. The company's 50 day moving average price is $25.68 and its 200-day moving average price is $25.80.

Clear Secure (NYSE:YOU - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The firm had revenue of $211.40 million during the quarter, compared to analyst estimates of $208.02 million. During the same period in the previous year, the company earned $0.28 earnings per share. The business's revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities analysts expect that Clear Secure, Inc. will post 0.98 EPS for the current year.

Clear Secure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, June 10th. Clear Secure's dividend payout ratio is currently 31.25%.

About Clear Secure

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.